May 6 (Bloomberg) -- Goldman Sachs Group Inc. was sued for
copyright infringement by Ipreo Holdings LLC, which provides
information about money managers and hedge funds and their
investments.

Ipreo claimed that Goldman copied trade secrets and other
confidential information from Ipreo’s bigdough.com database,
according to the complaint filed May 4 in U.S. District Court in
New York.

Ipreo, based in New York, said more than 16,000 users pay
license fees for its database. According to Ipreo’s complaint,
at least two Goldman employees used Ipreo passwords without
authorization to download its confidential information. Ipreo
said in court papers that Goldman admitted to unauthorized
access to the site and claimed it was an “isolated” incident.

“We believe the claims are without merit and we will
contest the suit vigorously,” Ed Canaday, a spokesman for
Goldman, said in a phone interview.

Goldman, the New York-based investment bank that reported
record earnings last year, was sued by the U.S. Securities and
Exchange Commission last month for fraud related to
collateralized debt obligations.

Ipreo is seeking at least $3 million in damages and a jury
trial.

The case is Ipreo Holdings LLC v. Goldman, Sachs & Co.,
10-3702, U.S. District Court, Southern District of New York
(Manhattan).